SG Americas Securities LLC Buys 14,165 Shares of Sunrun Inc (RUN)
SG Americas Securities LLC increased its stake in shares of Sunrun Inc (NASDAQ:RUN) by 43.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,983 shares of the energy company’s stock after buying an additional 14,165 shares during the quarter. SG Americas Securities LLC’s holdings in Sunrun were worth $618,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of RUN. Millennium Management LLC grew its stake in Sunrun by 99.1% during the 1st quarter. Millennium Management LLC now owns 3,998,203 shares of the energy company’s stock worth $35,704,000 after buying an additional 1,989,808 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Sunrun by 263.0% during the 1st quarter. JPMorgan Chase & Co. now owns 962,124 shares of the energy company’s stock worth $8,592,000 after buying an additional 697,044 shares during the last quarter. EAM Investors LLC grew its stake in Sunrun by 181.0% during the 2nd quarter. EAM Investors LLC now owns 362,050 shares of the energy company’s stock worth $4,761,000 after buying an additional 233,217 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in Sunrun by 114.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 435,736 shares of the energy company’s stock worth $3,891,000 after buying an additional 232,397 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Sunrun by 26.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 761,326 shares of the energy company’s stock worth $10,011,000 after buying an additional 160,833 shares during the last quarter. Hedge funds and other institutional investors own 79.02% of the company’s stock.
Shares of Sunrun stock opened at $13.09 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.50 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $1.45 billion, a PE ratio of 16.17, a PEG ratio of 0.70 and a beta of -0.87. Sunrun Inc has a fifty-two week low of $4.21 and a fifty-two week high of $16.44.
RUN has been the subject of several recent analyst reports. JMP Securities reissued a “buy” rating and issued a $21.00 price target on shares of Sunrun in a research note on Monday, July 16th. Bank of America raised Sunrun from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $15.00 to $16.00 in a research note on Monday, August 13th. Morgan Stanley cut Sunrun from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $8.00 to $15.00 in a research note on Friday, August 3rd. They noted that the move was a valuation call. Roth Capital set a $18.00 price target on Sunrun and gave the stock a “buy” rating in a research note on Thursday, August 9th. Finally, Credit Suisse Group increased their price target on Sunrun from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 13th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $14.82.
In other news, major shareholder Tiger Global Management Llc acquired 52,960 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was acquired at an average price of $13.33 per share, for a total transaction of $705,956.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Jeanna Steele sold 8,312 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $12.98, for a total value of $107,889.76. The disclosure for this sale can be found here. In the last 90 days, insiders bought 938,694 shares of company stock valued at $12,487,384 and sold 229,540 shares valued at $3,332,186. Corporate insiders own 19.45% of the company’s stock.
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar leads. The company markets and sells its products through direct channels, partner channels, mass media, digital media, canvassing, referral, retail, and field marketing.
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